Sales thrive for IT Limited in China

Fashion retailer IT Limited reports flat sales in Hong Kong for its first quarter, while Mainland China sales continued to thrive despite moderate economic conditions.
IT, which has about 600 stores in the mainland, attributes its success in China to further enhancement in its brand equity and the broadening of awareness for its brand.
Its Japan segment also continued to perform well, benefitting from growth in tourism.
Persisting cost inflation continued to place downward pressure on the company’s operating margins. It continued to work in a difficult trading environment, particularly in Hong Kong.
The company says its trading update was compiled from internal records for the three months ended May 31, and have not been audited.

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